Focus | which overseas park is stronger? Cambodia Sihanouk port Special Economic Zone

The Sihanouk port special economic zone (hereinafter referred to as the "West Port special economic zone"), known as the "Pro son" by Cambodian Prime Minister Hun Sen, is a double blessing this year - the regional comprehensive economic partnership agreement (RCEP) and the China Cambodia free trade agreement came into force on January 1, 2022, which means that with the support of the two free trade agreements, Cambodia's access to Chinese enterprises will be further relaxed, and China's exports to Cambodia and China's investment in Cambodia will usher in new opportunities.






Since the foundation construction in February 2008, after more than ten years of development, Xigang special zone has a certain scale. As of December 2021, Xigang special zone has introduced 170 enterprises (Institutions) from China, Europe and the United States, Southeast Asia and other countries and regions, and the enterprises in the zone have realized a total investment of US $1.399 billion.





Under one belt, one road initiative and the one with one belt, one road is highly suitable for Kampuchea. Under the guidance of Kampuchea's "2015 to 2025 Industrial Development Plan", the West Hong Kong Special Administrative Region will play an important role in the construction of the "overseas trade and economic cooperation zone" as the important starting point of the "one belt and one road" construction. It can be divided into three key words: the economic engine, the people's "rice bowl" and the friendship bridge.





On the one hand, Xigang special zone company has built a platform for international production capacity cooperation by continuously improving the infrastructure and services in the region and improving the industrial undertaking capacity. Up to now, the industrial output value of Xigang special zone has contributed more than 50% to the local economy. In 2021, enterprises in the region achieved a total import and export volume of US $2.234 billion, an increase of 42.75% year-on-year, injecting strong momentum into local development.





On the other hand, through the introduction of international enterprises, Xigang special zone has created nearly 30000 local jobs, and 70% of families in di BOLUO Renault County alone work in the special zone. At the same time, the development of the special zone has also driven the development of surrounding businesses and created more opportunities for local people to get rid of poverty and become rich.





It is worth mentioning that in the development and construction, Xigang special zone company has always practiced the "win-win" concept of establishing win-win relations with shareholders, employees, customers, suppliers, partners, government, environment and Society (community). While developing the economy, it will benefit the surrounding areas and make the surrounding people feel a real sense of gain.





This is mainly reflected in the following four aspects:





First, adhere to green development. In the development process of the West Port special zone, the ecological environment should be maintained as much as possible, so that construction and greening can be carried out at the same time. They have built separate drainage pipes and canals for rain and sewage in the park to treat industrial and domestic sewage before discharge, so as to maintain the ecological security of surrounding water sources. At the same time, the largest standard sewage treatment plant in Cambodia has been built to ensure that the sewage in the park meets the discharge standard and protect the environment.





Second, strictly abide by local laws and regulations. From the beginning of its construction, the West Hong Kong Special Zone has hired local lawyers as legal advisers to provide legal support all year round; With the support of Jiangsu Provincial Department of justice and Wuxi Municipal People's government, Jiangsu manxiu law firm has established a legal consultation platform to provide professional legal services; From time to time, relevant units are invited to hold legal consultation meetings and tax policy interpretation meetings to guide enterprises in the region to comply with laws and regulations.





Third, strengthen the training of local talents. Including arranging staff to use the rest time at night to teach Chinese free of charge in local schools at the initial stage of construction; Two groups of outstanding Cambodian youths have been funded to go to China Hongdou University and Wuxi business school for further study; Jointly carry out training with Wuxi business school. After 21 sessions of training, 70000 people have received training; With the Cambodian Ministry of labor and vocational training and Wuxi business school, the Sino Cambodian Friendship Institute of technology in Sihanouk Province, built with the assistance of the Chinese government and located in the West Hong Kong Special Zone, has recruited and trained more than 2000 students; Jointly bid with Wuxi business school to host Sihanouk port business school, which has officially opened in December 2019.





Fourth, take the initiative to fulfill social responsibility. The company donated money to build local schools in 2008; Actively contribute to the Cambodian Red Cross; Donate water and rice to local victims and poor people; Donate money to help students, donate school supplies to students with excellent character and learning, and mobilize employees to carry out "one-to-one" to help poor students; The Cambodian China Friendship public welfare volunteer alliance was established to mobilize more people to carry out activities to help the weak and the poor. In particular, the novel coronavirus pneumonia epidemic occurred after the outbreak of Kampuchea, according to the local demand for epidemic prevention materials, the West Port special zone company donated donations to various schools and departments, and donated millions of masks to the Kampuchea Red Cross with the red bean group. It was highly appreciated by Hong Sen, the Prime Minister and the president of the Kampuchea Red Cross, Vinrani.





In view of the formal entry into force of the China Cambodia free trade agreement and RCEP, Cambodia's investment environment will be further optimized, especially the improvement of the overall infrastructure of Sihanouk Province, which have brought new opportunities to the development of Xigang special economic zone. Although the epidemic has brought difficulties in one way or another to the operation and investment promotion of the special zone, Xigang special zone has continuously adjusted the prevention and control measures according to the development of the international and Cambodian epidemic situation, made full use of the network platform, and actively carried out "cloud investigation" and "cloud investment promotion". Especially in the first 10 months of last year, the trade volume between China and Cambodia reached US $10.98 billion, an increase of 45.9% year-on-year. The trade volume target of US $10 billion set by the leaders of the two countries in 2023 was achieved ahead of schedule, which further boosted the confidence of enterprises in the development of Xigang special zone.





Next, the company of Xigang special zone will focus on promoting the "three modernizations and three integration" and enabling the construction of version 2.0 of the special zone, that is, selecting the best business, focusing on leading enterprises and key projects, improving the industrial chain and promoting the industrialization of the park; Strengthen international investment, promote the internationalization of talents and build an international park; Strive to be listed as soon as possible and realize the capitalization of the park; Accelerate the integration of industry and city, and improve the supporting service functions of cities such as residence, education, medical treatment and entertainment; Promote the integration of industry and education, support the operation of Sino Cambodian Friendship Institute of technology in Sihanouk province and Sihanouk port business school in the region, and provide talent support for industrial development; Implement the integration of corporate development and social responsibility, continue to take root in the local area with the concept of "win-win" and enhance the sense of gain of the local people. At the same time, give full play to the platform role of the West Hong Kong Special Zone, actively explore the development of cross-border e-commerce, promote Cambodia's high-quality agricultural products to the Chinese market, and further promote China Cambodia economic and trade cooperation.





In the future, Xigang special zone hopes to attract enterprises from hardware machinery, building materials, home furnishings, auto parts and tires, new photovoltaic materials, fine chemicals and other industries. According to the investment law of the royal government of Cambodia and the law on the administration of the special zone, enterprises settled in the West Port special zone can enjoy a series of preferential tax policies, regardless of countries, such as the exemption of import tax on machinery and equipment, building materials, spare parts and raw materials used by enterprises for production; Up to 6 to 9 years of profit tax exemption; The export of products is exempted from export tax; Production equipment and building materials are exempted from value-added tax; Industries serving the export market and raw materials are exempted from value-added tax. In addition to enjoying a series of preferential policies, Xigang special zone will also provide enterprises with "one-stop" administrative examination and approval services, human resources services, training services, financial services, legal advisory services, etc.





At present, in the overall planning area of 11.13 square kilometers, there are functional blocks such as urban supporting area, industrial park and comprehensive area of Xigang special zone. Among them, the industrial park is divided into industrial phase I and industrial phase II. At present, the first industrial phase has been completed, and the urban supporting area and the second industrial phase are under construction. When the West Port special zone is completed, it will become an ecological model park with complete supporting functions that can attract 300 enterprises to settle in, drive the employment of 80000 to 100000 industrial workers.





Source: China trade news reporter Zhang Fan



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